Message from the CEO Being a Public Entity of Society

*This content is an excerpt from the CEO message of the Annual Report 2020.

Photo: Kazuhiro Tsuga, Representative Director, President and CEO of Panasonic Corporation

Since its foundation, Panasonic has been engaged in management based on the philosophy that “A company is a public entity of society.” Utilizing the various management resources entrusted by society, we must respond to social needs through business activities, contribute to the solution of social issues and the development of society, and achieve sustainable growth. When the Company was founded, the overall society of Japan was facing poverty and a shortage of goods. Panasonic has developed by responding to the needs of society, which was viewed as the desire to make life more affluent, through offering good-quality products, mainly home appliances, at affordable prices.

More than a 100 years after its founding, people's daily lives have changed drastically. Today, how should Panasonic respond to the requirements of global society? We can certainly say that society has become more affluent in terms of possessing goods. However, in pursuing affluence, I believe we are facing various imbalances in society. From the perspective of people, there are concerns of individual health, declining birthrates, aging populations, and child raising, and we cannot necessarily say that people's minds and bodies have become healthy. Looking at society as a whole, many problems have arisen through the process of pursuing affluence, including environmental and energy issues as well as the population becoming urbanized. Now is the time for us to correct this, and to guide the way to a healthier future in a more appropriate direction.

Through the expansion of COVID-19 infections, we have gone through the real-life experience of “advances in digital technology changing real society.” Now, Panasonic should make further contributions to solving persistent social imbalances by making full use of the latest technologies, including digital technology, applying our strength from being close to our customers over the past 100 years, and leveraging the strengths of our outside partners. Taking this direction is also how we can contribute to achieving Sustainable Development Goals (SDGs), thus building a sustainable society that the international community is aiming for. In order to fully respond to these requirements of society, we will continue to focus on ESG initiatives, including contribution to the global environment, human resources development, respect for human rights, fair business promotion, and enhanced corporate governance.

These are our initiatives toward achieving “A Better Life, A Better World,” and they embody our efforts to achieve our basic management philosophy: “A company is a public entity of society.” Through these activities, we will continue to strive to make the “Panasonic” brand even better known as a valuable company, achieve sustainable growth, and raise corporate value from a medium- to long-term perspective. I ask for your continued support of our endeavors.